Raymond James Financial Inc. Buys Shares of 302,077 Broadstone Net Lease, Inc. (NYSE:BNL)

Raymond James Financial Inc. purchased a new position in Broadstone Net Lease, Inc. (NYSE:BNL) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 302,077 shares of the company’s stock, valued at approximately $4,791,000.

A number of other institutional investors also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC increased its position in Broadstone Net Lease by 30.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 466,782 shares of the company’s stock worth $7,403,000 after purchasing an additional 108,907 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Broadstone Net Lease by 79.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 44,955 shares of the company’s stock worth $705,000 after purchasing an additional 19,839 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Broadstone Net Lease by 15.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,820,961 shares of the company’s stock worth $28,880,000 after buying an additional 237,083 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Broadstone Net Lease by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,077,513 shares of the company’s stock valued at $48,809,000 after buying an additional 71,709 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Broadstone Net Lease during the third quarter valued at approximately $633,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Broadstone Net Lease Price Performance

Broadstone Net Lease stock opened at $16.82 on Wednesday. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 19.33 and a beta of 1.09. Broadstone Net Lease, Inc. has a 12 month low of $14.21 and a 12 month high of $19.15. The stock’s 50-day moving average is $16.23 and its 200-day moving average is $17.01.

Broadstone Net Lease (NYSE:BNL) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.16. Broadstone Net Lease had a net margin of 37.62% and a return on equity of 5.10%. The firm had revenue of $112.13 million for the quarter, compared to analysts’ expectations of $109.80 million. Research analysts anticipate that Broadstone Net Lease, Inc. will post 1.43 EPS for the current year.

Broadstone Net Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.29 per share. The ex-dividend date is Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a yield of 6.90%. Broadstone Net Lease’s dividend payout ratio (DPR) is 133.33%.

Wall Street Analysts Forecast Growth

BNL has been the subject of several analyst reports. JMP Securities upgraded Broadstone Net Lease from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Tuesday, December 17th. Citizens Jmp upgraded Broadstone Net Lease from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Broadstone Net Lease currently has an average rating of “Hold” and an average price target of $18.60.

About Broadstone Net Lease

Broadstone Net Lease, Inc (the Corporation) is a Maryland corporation formed on October 18, 2007, that elected to be taxed as a real estate investment trust (REIT) commencing with the taxable year ended December 31, 2008. Broadstone Net Lease, LLC (the Corporation’s operating company, or the OP), is the entity through which the Corporation conducts its business and owns (either directly or through subsidiaries) all of the Corporation’s properties.